There still may be trouble ahead .....

[Deleted User] · 20 August 2019 at 8:01AM

Around this time last year a redundancy threat at work shocked me into actually looking at my finances properly, and it wasn't a pretty sight.

I'm now officially debt-free, but have no savings. I'm now in a new department at work, with a new manager, colleagues and ways of working which is all a bit stressful and I'm not entirely convinced this is going to work out, so there still may be trouble ahead.

I want to have at least a year's living expenses in a 'freedom fund' so that if things do get bad, I have some options. I'd also like to move within the next year so will need some money to cover expenses for that.

I'm aiming at £15,000 by at least this time next year. The numbers on my budget don't really add up to that, but I'm going to give it my best shot

bln x

savingwannabe · 20 August 2019 at 8:24AM

bestlifenow, welcome to the forum. It is great that you are thinking of saving to plan for the future. Redundancy threats loom a bit too often in this climate so your plan to stay prepared is a wise one, I wish you well. :beer:

[Deleted User] · 21 August 2019 at 7:05AM

Hi savingwannabe, thank you for the welcome.

At least the redundancy threat shocked me into sorting out the debt. Yesterday's shock was the prospect of having to wait until 70 for my state pension, and the state of my finances means I would have to work until then. I'm keeping this in mind when I feel like spending money :eek:

bln

savingwannabe · 21 August 2019 at 4:42PM

I don't know how we can keep working till that ridiculous age. The idea is preposterous.

[Deleted User] · 23 August 2019 at 5:52AM

Day off today and a long weekend ahead :j

I've got my payslip, so I know how much I'm getting paid next week and I can spend some time this weekend looking at what I've spent this month and working out next month's budget. I'm strangely looking forward to it.

I also need to defrost the fridge-freezer and give it a good clean out this weekend. Not looking forward to that so much

Other than that, I have no plans and I'm really looking forward to just pottering around and having a rest.

bln

[Deleted User] · 6 September 2019 at 12:03PM

Well, it feels like summer is well and truly over.

I didn't defrost and clean the freezer, and only had a half-hearted attempt at a budget. I've mentally been giving myself time off since I've paid off the debt and things have started to drift again, so now's the time to set some new goals for the next few months until Christmas.

I've had another, proper go at a budget which includes emergency savings and I'm going to let that build up in my current account for the next few months.

I'm thinking about moving within the next 12 months and I think I could need about £3000 for that. My plan is to try to build that fund from extra money making and keep it in a separate account.

If I'm going to move, I need to declutter, clean and do some general tidying up where I am now, so that's another goal.

My main goal at the moment is to try and lose some weight and get a bit fitter. I've not really looked after myself physically for a while and it's starting to affect my day-to-day life now, so it's time for some action, I think.

I really will deal with the freezer this weekend :eek:

bln

savingwannabe · 6 September 2019 at 2:17PM

Hello good luck with budget and moving fund. It looks like you have caught Skinty's decluttering bug too!!! Welcome to the club.

Good luck with freezer. I know the feeling.Time to start some work.

[Deleted User] · 7 September 2019 at 8:29AM

Thanks, savingwannabe. Hope you got your work done.

[Deleted User] · 8 September 2019 at 4:40AM

Well, here I am up at silly o'clock due to my neighbours. The noise has been going on since half past 3, I think they must have been out before that. I think I'm going to wait til they go to bed and start doing my hoovering

For now, this is good motivation to get my moving fund together and get out of here, so off to enter some competitions and do some surveys.

savingwannabe · 8 September 2019 at 10:34AM

How awful. That's the last thing you need at the weekend. Good luck with competitions.

[Deleted User] · 8 September 2019 at 2:26PM

I did fall asleep for a couple of hours again this morning when the neighbours went quiet, but now I feel all out of sorts. They seem to have been up again since 9ish and more people have arrived, so I can't really relax. How are they managing on 3 hours sleep? :eek:

This has happened before over the years, and then it goes quiet for a while, but I think I've lost my tolerance for it as I've got older.

Bearing this in mind, I've had a rethink about the financial goals and priorities, and the moving fund must come first; this is the emergency! So, until there's a moving fund in place, every penny is a prisoner and it's all out for the extra pennies coming in.

There still may be trouble ahead .....

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